Portfolio Performance

We track our total returns to our shareholder over various periods.

Total Shareholder Return (TSR) is a compounded and annualised measure, which includes dividends paid to our shareholder and excludes capital injections from our shareholder. Our TSR over short, medium, and long time periods are a snapshot of our performance.

As at 31 March 2017, our Singapore dollar1 one‑year TSR was 13.37%. Our three‑year TSR was 7.13% and our 10‑year TSR was 4%.

Our TSR is measured against our risk‑adjusted cost of capital, which is derived using a capital asset pricing model. The risk‑adjusted cost of capital is built bottom‑up, and aggregated over all our investments.